Allen, TX Residential Sales Report for May

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Single-Family:

Sales were off by 11% in Allen for the months of May. The average sales price jumped by 24% while the median sales price was even higher at 26%. About 40% of the listings in MLS are builder new homes. These homes are all in the upper price ranges and their sales are a contributing factor to the large increases in the average and median sales prices.

Pending sales were up by 13%. As has been the trend, the number of new listings declined by 12% and the active listings by 20%. The months of inventory fell to 1.7 months.

Sales: 132

Average Sales Price: $367,725

Median Sales Price: 320,000

Pending Sales: 129

New Listings: 186

Active Listings: 207

Months of Inventory: 1.7

Leases:

Leases were flat in May. The average rent was up by 5% while the median rent rose 3%. The pending leases jumped by 344%. Last May was a very low month for leases. New listings increased by 30% and the active listings by 21%. These increased only brought up the months of inventory to 1.5 months.

Leases: 48

Average Rent: $1,944

Median Rent: 1,750

Pending Leases: 40

New Listings: 79

Active Listings: 63

Months of Inventory: 1.5

Information provided by The Real Estate Center at Texas A&M.

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